London New Home Starts Higher in February

LONDON, ONTARIO--(Marketwire - March 8, 2012) - New home starts were up in the London Census Metropolitan Area (CMA) in February according to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC). Builders laid foundations for 88 homes compared to 69 in February 2011.

"The greater number of resale homes sold this spring has contributed to stronger demand for new residential construction," said Margot Stevenson, CMHC's Senior Market Analyst. "The mild winter weather has also been a positive factor for construction."

New construction for the month included 77 single-detached homes, two semi-detached homes and nine ownership townhomes. For the first two months of 2012 total housing starts totaled 183 units compared to 312 units for the same period last year.

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

For more information, visit www.cmhc.ca or call 1-800-668-2642.

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